MGO One Seven LLC Purchases 2,585 Shares of Tesla, Inc. $TSLA

Key Points

• MGO One Seven LLC increased its holdings in Tesla, Inc. by 8.0% during the second quarter, purchasing an additional 2,585 shares, bringing its total ownership to 34,835 shares valued at $11,066,000.
• Institutional investors currently own 66.20% of Tesla's stock, with other firms like Cherry Tree Wealth Management and First PREMIER Bank also significantly increasing their stakes during the first quarter.
• Tesla's recent financial performance showed a revenue decrease of 11.8% year-over-year, reporting $22.50 billion in revenue and an EPS of $0.40, which was below analysts' expectations.

MGO One Seven LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,835 shares of the electric vehicle producer's stock after purchasing an additional 2,585 shares during the period. MGO One Seven LLC's holdings in Tesla were worth $11,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the 1st quarter valued at approximately $27,000. Newton One Investments LLC lifted its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $435.90 on Tuesday. The company has a market capitalization of $1.45 trillion, a P/E ratio of 251.97, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The company's 50-day moving average is $378.50 and its 200 day moving average is $329.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business's revenue was down 11.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $355.00 target price on shares of Tesla in a research report on Friday, October 3rd. Dbs Bank increased their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Thursday, October 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Tesla in a report on Wednesday, October 8th. Finally, TD Cowen upped their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $363.03.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.

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